Polycab India Q2FY23 PAT up 37.2% at Rs268cr on operating profit boost from wires and cables vertical

19 Oct 2022 , 07:39 AM

Polycab India reported 10.84% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs3,332.36cr. Sequential revenues were up 21.77%.

The revenues of the wires and cables vertical grew by 12.3% at Rs2,952 crore. The revenues from the fast moving electrical goods (FMEG) vertical was down -11% at Rs305.36 crore.

During the board meeting, the company had approved the scheme of amalgamation between the parent company and Silvan Innovation Laboratories Private Limited, which is already a subsidiary of the company.

Net cash from operations up 4-fold due to higher profits and working capital efficiencies.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 37.19% at Rs267.8cr.

While the FMEG business made an operating loss in the quarter, the wires and cables business saw operating profits grow 51% at Rs346 crore as the margin impact of higher input costs was quite pronounced in the FMEG segment.

Net margins at 8.04% were flat on sequential basis, but higher by 159 basis points on a yoy basis.

Financial highlights for Sep-22 compared yoy and sequentially

	Polycab Ltd
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 3,332.36	₹ 3,006.56	10.84%	₹ 2,736.56	21.77%
Operating Profit (Rs cr)	₹ 359.43	₹ 261.23	37.59%	₹ 296.20	21.35%
Net Profit (Rs cr)	₹ 267.80	₹ 195.21	37.19%	₹ 219.76	21.86%
Diluted EPS (Rs)	₹ 17.84	₹ 13.01		₹ 14.65
OPM	10.79%	8.69%		10.82%
Net Margins	8.04%	6.49%		8.03%